20th Sep 2006 08:10
Rio Tinto PLC20 September 2006 Rio Tinto's shares in Ashton Mining of Canada taken up by Stornoway Diamond Rio Tinto has been advised by Stornoway Diamond Corporation ("Stornoway") thatRio Tinto's shares in Ashton Mining of Canada Inc. ("Ashton") have been taken upby Stornoway under its take-over bid for Ashton. Rio Tinto (through both AshtonCanada Pty. Limited ("ACPL"), an indirect, wholly-owned subsidiary of Rio TintoLimited, and QIT-Fer et Titane Inc. ("QIT"), an indirect, wholly-ownedsubsidiary of Rio Tinto plc), had held 49,037,982 common shares of Ashton,representing approximately 51.7% of Ashton's issued and outstanding commonshares. Under the Stornoway bid, ACPL and QIT will receive in exchange for their Ashtonshares cash totaling approximately C$29.6 million (approximately US$26.1million) and approximately 25.6 million Stornoway common shares. Rio Tinto hasbeen advised by Stornoway that upon payment for all shares taken up on September18, 2006 under the bid and completion of certain related transactions byStornoway, Rio Tinto will hold approximately 17.7% of Stornoway's issued andoutstanding common shares. Rio Tinto has no present intention of acquiring other securities of Stornoway orof disposing of any of the securities of Stornoway which it holds. Dependingupon its evaluation of Stornoway's business, prospects and financial condition,the market for Stornoway's securities, general economic conditions and otherfactors, Rio Tinto may acquire additional securities of Stornoway or sell someor all of the securities it holds. For further information, please contact: LONDON AUSTRALIA Media Relations Media RelationsNick Cobban Ian HeadOffice: +44 (0) 20 7753 2305 Office: +61 (0) 3 9283 3620Mobile: +44 (0) 7920 041 003 Mobile: +61 (0) 408 360 101 Investor Relations Investor RelationsNigel Jones Dave SkinnerOffice: +44 (0) 20 7753 2401 Office: +61 (0) 3 9283 3628Mobile: +44 (0) 7917 227 365 Mobile: +61 (0) 408 335 309 David Ovington Susie CreswellOffice: +44 (0) 20 7753 2326 Office: +61 (0) 3 9283 3639Mobile: +44 (0) 7920 010 978 Mobile: +61 (0) 418 933 792Website: www.riotinto.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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